Is the outright purchase of software a thing of the past?
Most senior managers born in the ’60s or ’70s were taught by their parents that it was way better to buy items like software, buildings, and other assets to reduce the expenses incurred in interest... Read More
Inventory classifications – your first step towards better inventory health.
From the moment we are born, we are classified in some or other way. As we go through life, the classifications continue, and this data becomes vital for companies to determine whether we are their... Read More
What is safety stock, and factors to consider when calculating it?
Supply and demand are what drives the supply chain. In a perfect world, if our suppliers always delivered on time and in full, and we knew for sure how much customers would spend each month,... Read More
Implementation tips when implementing an inventory management system.
Lower inventory costs and higher customer fill rates lead to improved inventory balance and give your company a competitive edge. On the flip side, neglecting your inventory means reduced profits and reduced customer service levels,... Read More
When is the right time to implement an inventory management tool and what should you look out for?
Does this messy warehouse look familiar? If you are thinking about extending the functionality of your ERP to provide better demand planning and forecasting abilities, then this is the article for you. There are many... Read More
How to produce an accurate inventory forecast.
If you are not sure of what your sales are going to be tomorrow, how can you determine what you need to buy today? By being able to forecast your demand accurately means being able... Read More
Cracking the Bullwhip effect on your supply chain
When you crack a bullwhip, the whip handle moves 60 degrees, but the tip of the whip moves at 360 degrees. In supply chain operations, the amplification and distortion of demand fluctuations is a common... Read More
Where does your supply chain company sit on the Inventory Maturity curve?
Inventory or stock is the foundation of every supply chain operation. Like any foundation, you want it to be devoid of cracks so that you can focus on the business functions that matter. If you... Read More
Balancing internal and external supply chain risks.
There is more to an Inventory planner’s function than to manage the fine line between overstocking and understocking. There is an ongoing challenge to control other risk factors, both external and internal, to the business.... Read More
Minimize stock-outs without creating an excess stock crisis
With the technology products and tools available today, the phrase ‘stock outage” should never leave the lips of a warehouse manager. There is simply no reason whatsoever that any supply chain business should find itself... Read More
What is the real cost of your inventory and how to reduce it?
Your Inventory planner and your warehouse team must understand the figures involved when calculating the real cost of your stock. Although the companies expenses, liabilities, assets, etc. is not their responsibility, they should be made... Read More
How to minimize your inventory loss as a result of damaged, spoiled, and expired inventory.
In our previous article, we looked at inventory loss as a result of theft. We provided some tips on how to lessen your risk. In this article, we’re going to look at reducing risk on... Read More
Your profits could be walking out the door. What procedures do you have in place to minimize theft in your supply chain?
We all experience a certain amount of inventory shrinkage in our supply chain businesses. Still, if you don’t keep on top of this, it can result in a considerable amount of financial loss. Inventory loss... Read More
Safety stock is the key!
Achieving the magical balance of minimal inventory while meeting variable customer demand in the face of unreliable supply is only possible with optimal safety stock levels. Without optimal safety stocks, product availability and the value... Read More
Talking Sage Summit 2016 with Russ Graf from NETSTOCK
The dust is starting to settle on a busy and action-packed Sage Summit 2016 in Chicago. With nearly 15,000 people in attendance, the event was a must-visit for those connected with Sage Software. Among the... Read More
Time to ditch that inventory spreadsheet
Every day, we talk to frustrated inventory managers that are looking for ways to improve their inventory planning process. Often, they’re stuck on a spreadsheet to manage their ordering, and that’s why we’ve been glued... Read More
The scary reality of the “MASTER” spreadsheet
If you’ve been following along with the Inventory Mentor’s series on inventory spreadsheets like we have, you’ll be interested by their latest post. The gist is simple: you’ve put in a major effort to build... Read More
The complexities of inventory spreadsheets
We’ve been following the new series from the team over at The Inventory Mentor about inventory spreadsheets. Last week, they took a look at the issues around data and how unlikely it is that your... Read More
Does your inventory spreadsheet add up?
Managing an inventory spreadsheet means you need to manage lots of data. If you plug in quality inputs, then you’ll get decently reliable outputs; that’s not too complicated, right? Well, you might be missing a... Read More